(CBS DETROIT) – Detroit-based Ally Financial is ending its overdraft fees.
It will be the first bank in the nation to make the move, ending its $25 overdraft fee across its entire business.READ MORE: 'Our Pure Michigan Summer Is Back,' Whitmer Officially Announces Mask Mandate, Some COVID Restrictions Lifted
Ally cites the impact the fee had on Black and Latino households as the main reason.READ MORE: Whitmer Announces Plan To Expand Tuition-Free College To 22,000 Additional Michiganders
It also expects by removing the fee, it will reduce stress on customers and simplify how their accounts work.MORE NEWS: July 4 Celebrations: Here's A List Of Fireworks Shows Happening In Metro Detroit
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